Dwelling
Dwelling Property 1-2-3 below are used by Bay state-Merrimack, Preserver, Tower, Philadelphia Contributionship.
|
We sell policies for 1-4 family tenant occupied or 3 & 4 family owner occupied dwellings. The policy includes rental income, medical payments and premises liability. Note if you own a 3 or 4 family dwelling you need to purchase an ho-4 policy which will cover your personal liability in your owner occupied unit.
Personal property for your rental units can be purchased. Examples of personal property would be: tenants refrigerators, washers, dryers, and stoves that you own and supply for your tenants.
You may be able to save money by insuring your home and rental property with one company.
See coverage explanation charts below:
PART 3 – PERILS INSURED AGAINST & RELATED SPECIFIC EXCLUSIONS
SECTION 1 – PERILS INUSRED AGAINST
COVERAGES (A) & (B) We insure property covered under these agreements for direct physical loss not otherwise excluded, caused by the perils of loss described below or any other risks or direct physical loss.
COVERAGE C – We insure property covered under this agreement for direct physical loss, not otherwise excluded, caused by the perils of loss described below.
The following are included in DP1 Coverage (Basic)
1. Fire (hostile fire) & Lightning
2. Windstorm & hail
3. Explosion
4. Riot or Civil Commotion
5. Vehicles or Aircraft
6. Smoke, sudden accidental damage from smoke.
7. Vandalism: malicious damage to property, including such damage caused by burglars.The Following coverages are Excluded from coverage under the DP1 Form
DP 2 INCLUDES ITEMS 1–10 (Broad)8. Bursting of Fixtures: sudden accidental tearing apart, cracking, burning or bulging of a steam or hot water heating system, or air conditioning system, or a home water heating appliance.
9. Collapse: the collapsing of a building or structural part of a building.
10. Electricity: sudden accidental damage from an electrical current.
11. Falling Objects: damage to other property caused by falling objects.
12. Freezing: the freeing of a home appliance, or plumbing, heating, or air conditioning system.
13. Water Damage: damage from the accidental discharge or overflow of water or steam from within a home appliance, or plumbing, heating or air conditioning system other than damage caused by freezing.
14. Weight of Ice, sleet, or snow: damage to property within a building caused by the weight of ice, sleet, or snow.
PERILS |
DP – 1 (Basic Form) |
DP – 2 (Broad Form) |
DP – 3 (Special Form) |
| 1. Fire, lightning, windstorm, internal explosion | Yes |
Yes |
Yes |
| 2. Windstorm or hail, explosion (excluding explosion of boilers or steam pipes owned by the insured), riot or civil commotion, aircraft, vehicle damage, smoke damage | No |
Yes |
Yes |
| 3. Vandalism or malicious mischief | No |
Yes, except if dwg has been vacant for over 30 days. |
|
| 4. Breakage of glass or safety glazing material (only if part of a building, storm door or storm window) |
No |
No |
Yes |
| 5. Damage caused by burglars | No |
Yes |
Yes |
| 6. Falling objects | No |
Yes |
Yes |
| 7. Weight of ice, snow, or sleet |
No |
Yes, except for an awning, fence, patio, pavement, swimming pool, foundation, retaining wall, bulkhead, pier, wharf or dock. |
|
| 8. Accidental discharge or overflow of water or steam from a plumbing, heating, or air conditioning system |
No |
Yes, except caused by continual leakage or freezing |
|
| 9. Sudden or accidental tearing apart, cracking, burning, or bulging of a steam or hot water heating system. |
No |
Yes, except caused by freezing |
Yes |
| 10. Freezing of a plumbing, heating, or air conditioning | No |
Yes, except when dwelling has been vacant over 30 days |
|
| 11. Artificially generated electric current | No |
Yes |
Yes |
| 12. Flood | No |
No |
No |
| 13. Off Premises Contents | No |
No |
Yes |
RECOVERY AND VALUATION |
ACV |
Dwelling – Replacement cost |
|
This document presents a general description of coverages consult the policy for exact terms and conditions.
930 Washington Street, Hoboken, New Jersey 07030 • 201-659-2403 • fax 201-659-0373
Licensed in: New Jersey, New York, Delaware, Connecticut, Vermont, Florida, Pennsylvania, Arizona, New Mexico, South Carolina and Ohio
Links | Privacy Rights, Copyrights, Disclosures and Disclaimers | © Copyright 2007